Yen Advances as Aso Damps Bets on Corporate-Tax Cut; Pound Gains

The yen advanced versus the dollar, heading for its second weekly gain, after comments by Japan’s Finance Minister Taro Aso damped bets the government will cut corporate taxes, boosting demand for the currency as a haven.

Japan’s currency gained as inflation in the country accelerated to the fastest pace since 2008 in August. The euro rose versus most of its major counterparts as economic data in the region exceeded forecasts in September. The pound rose against the dollar after Bank of England Governor Mark Carney told a U.K. newspaper he sees no case for further stimulus. The greenback was weaker amid concern a U.S. budget deadlock will shut down the government of the world’s largest economy.